Canaccord Genuity Reaffirms “Buy” Rating for Quest Diagnostics (DGX)
Quest Diagnostics (NYSE:DGX)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity in a research report issued to clients and investors on Tuesday. They currently have a $110.00 price target on the medical research company’s stock. Canaccord Genuity’s price target would indicate a potential upside of 8.39% from the stock’s current price.
A number of other equities analysts also recently commented on the company. Evercore ISI began coverage on Quest Diagnostics in a research report on Thursday, January 4th. They set an “in-line” rating and a $103.00 price objective on the stock. Jefferies Group set a $98.00 price objective on Quest Diagnostics and gave the stock a “hold” rating in a research report on Saturday, November 25th. Zacks Investment Research upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. KeyCorp reiterated a “hold” rating on shares of Quest Diagnostics in a research report on Friday, October 27th. Finally, Wells Fargo & Co reduced their price objective on Quest Diagnostics from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $106.45.
Quest Diagnostics (NYSE:DGX) traded up $0.27 during midday trading on Tuesday, hitting $101.49. The stock had a trading volume of 520,500 shares, compared to its average volume of 804,264. The stock has a market capitalization of $13,840.00, a P/E ratio of 21.14, a PEG ratio of 2.00 and a beta of 0.60. Quest Diagnostics has a 1-year low of $90.10 and a 1-year high of $112.96. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.37 and a current ratio of 1.47.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.04. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the business posted $1.37 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. research analysts forecast that Quest Diagnostics will post 5.65 EPS for the current fiscal year.
In other Quest Diagnostics news, EVP J. E. Davis sold 63,880 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $98.68, for a total transaction of $6,303,678.40. Following the completion of the sale, the executive vice president now owns 101,423 shares of the company’s stock, valued at $10,008,421.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.75% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Oakbrook Investments LLC acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at $512,000. Fox Run Management L.L.C. grew its stake in shares of Quest Diagnostics by 110.0% in the fourth quarter. Fox Run Management L.L.C. now owns 7,351 shares of the medical research company’s stock valued at $724,000 after buying an additional 3,851 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Quest Diagnostics by 1.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 518,980 shares of the medical research company’s stock valued at $51,115,000 after buying an additional 8,866 shares in the last quarter. Coastline Trust Co grew its stake in shares of Quest Diagnostics by 10.9% in the fourth quarter. Coastline Trust Co now owns 17,440 shares of the medical research company’s stock valued at $1,717,000 after buying an additional 1,715 shares in the last quarter. Finally, National Pension Service grew its stake in shares of Quest Diagnostics by 9.5% in the fourth quarter. National Pension Service now owns 155,469 shares of the medical research company’s stock valued at $15,312,000 after buying an additional 13,460 shares in the last quarter. 88.92% of the stock is owned by institutional investors and hedge funds.
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About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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